CEOs Planning a Hiring Spree in 2014

2014 may be the year you find a new job, but settle your debts first.

Fifty-eight percent of CEOs said they planned on hiring more employees in 2014. That’s the highest percentage level recorded since the start of 2007. And 47 percent believe the economy has improved despite the rash of winter storms debilitating businesses across the U.S.

Those optimistic numbers come from the latest Vistage CEO Confidence Index – a survey of over 1,500 U.S. CEOs established in 2003. Additional information from the survey includes:

  • The Vistage CEO Confidence Index rated a 101.3 in the first quarter of 2014 compared to 96.6 in the first quarter of 2013
  • Firms reported the top issue they were now facing was finding, hiring, and training new staff
  • Three-in-four firms reported using management training and leadership development programs to further educate workers
  • Forty-seven percent of all firms intend to increase their investments in such training
  • Revenue gains were expected by three-in-four CEOs and more than half anticipated higher profits during the year ahead

This information paints a rosy picture but if you’re in debt and it reflects poorly on your credit report, many potential employers could turn you down. That’s because HR departments in some fields of business pull your credit report to determine how responsible you are with money. Their reasoning is if you can’t manage your finances how can you manage the job?

Gary Herman, President of Consolidated Credit, understands that reasoning…

“These days employers have a large pool of workers to choose from and if you display poor money management skills or a disregard for your finances, such as not paying your bills on time, you could appear unreliable. That’s why it’s so important to budget, settle your debts and continue paying your bills in a timely manner. Your future employment could depend on it.”

If you need assistance creating a budget or help managing your debt don’t hesitate to contact one of Consolidated Credit’s certified credit counselors or get started online with a request for a Free Debt Analysis.